A subsidiary ledger that contains a separate account for each supplier (creditor)to the company is theChooseControlling accounticial statement accounts of a company is theAccounts payable ledgerAccounts receivable ledgerGeneral ledgerSpecial journalecord The ledger that contains the financial statement accounts of a company is theChooseGeneral journalto recordColumn balance journalSpecial ledgerGeneral ledgerSpecial journalCredit purchases

Any subsidiary ledger is prepared for detailing the information about transactions with similar…

Answered: A subsidiary ledger that contains a…

Business

Accounting

A subsidiary ledger that contains a separate account for each supplier (creditor) to the company is the

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 7QY: The schedule of accounts payable lists each creditors account balance, and the total equals the...

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

A subsidiary ledger that contains a separate account for each supplier (creditor)
to the company is the
Choose
Controlling account
icial statement accounts of a company is the
Accounts payable ledger
Accounts receivable ledger
General ledger
Special journal
ecord

The ledger that contains the financial statement accounts of a company is the
Choose
General journal
to record
Column balance journal
Special ledger
General ledger
Special journal
Credit purchases

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Why would a company use a subsidiary ledger for its Accounts Receivable?
Post the following entry to the general ledger and the subsidiary ledger.
A subsidiary ledger that contains a separate account for each supplier (creditor) to the company is the:
Individual customer accounts are kept in a ledger called a: O purchase ledger O sales ledger general ledger O subsidiary ledger
The Vendor Ledgers report displays the :Select one A. Accounts receivable control account B. Accounts Payable subsidiary ledger C. Accounts receivable subsidiary ledger D. Accounts Payable control account
A subsidiary ledger that contains a separate account for each supplier (creditor) to the company is the a. Controlling account. b. Accounts payable ledger. c. Accounts receivable ledger. d. General ledger. e. Special journal.
The subsidiary ledger that includes customer account activity is called the a. asset ledger b. accounts payable ledger c. expense ledger d. accounts receivable ledger
The controlling account in the general ledger that summarizes the individual accounts with creditors in a subsidiary ledger is called accounts payable accounts receivable purchases sales returns and allowances
Explain the relationship between the balance in the account payable general ledger control account and accounts payable subsidiary ledger.
Explain briefly the purpose of making accounts receivable subsidiary ledger andaccounts payable subsidiary ledger!
How payables ledger works with double entry accounting
Use the journals and ledgers that follow. Total the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule of accounts receivable.